Looking at purchasing a boarding house for approx 1M.
The boarding house is in a regional CBD location walking distance to the uni and shops etc. I am talking to the uni about them leasing it off us for student accom. If we can get finance rough numbers look like it will be at least $300 pw positively geared.
With only $150k deposit available and joint income of $70k this will be a tough one to get finance for. Can anyone suggest recommendations?
We could get the approx $300k IF we sold our PPR however I would like to avoid that if possible.
Any advice would be much appreciated
The boarding house is in a regional CBD location walking distance to the uni and shops etc. I am talking to the uni about them leasing it off us for student accom. If we can get finance rough numbers look like it will be at least $300 pw positively geared.
With only $150k deposit available and joint income of $70k this will be a tough one to get finance for. Can anyone suggest recommendations?
We could get the approx $300k IF we sold our PPR however I would like to avoid that if possible.
Any advice would be much appreciated